KaloBios binds up Martin Shkreli and cages his stock in a long goodbye
The new CEO at KaloBios has already made it clear that he doesn’t want to see Martin Shkreli playing new games with the company’s stock. Now, just to make sure that can never happen, he’s provided some legal rope and duct tape to keep the indicted biotech exec and one-time hedge fund prankster safely under wraps and out of sight.
CEO Cameron Durrant, who’s brought the company out of bankruptcy and is now trying to blaze a new path forward, struck a deal that restricts Shkreli’s handling of the stock he has left in KaloBios. This new pact restricts his right to sell stock, offers KaloBios a first right of refusal for any sale of the stock, and prohibits Shkreli for transferring the stock to any of his associates.
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